russia

Rich Chinese and Russians Flock to Germany to Spend

"Travelers from non-EU countries can receive a refund for the value-added tax they've paid on items they buy, generally 19% of the purchase price. There are days when the customs officers are barely able to cope with the flood of heavily laden tourists. Long lines often form at the customs counters shortly before flights leave for Moscow, Beijing or Dubai. The same is true for incoming flights, when arriving passengers must declare cash amounts over €10,000. A golden age has also begun for businesses that specialize in refunding value-added tax. The companies pay tourists the bulk of the refund, but the company retains a percentage as a 'service charge.'" Continue reading →

Continue ReadingRich Chinese and Russians Flock to Germany to Spend

Georgia rebuilds Stalin monuments

"A Joseph Stalin statue went back up in the Georgian village of Alvani on Friday in a sign of the slipping authority of President Mikheil Saakashvili, who had ordered its removal. The pro-Western president is serving out what some are calling a lame-duck term ahead of elections next year from which he is barred on account of the end of his 10-year constitutional mandate. Saakashvili, whose forces fought a five-day war with Russia in 2008 and who has always sought to ally Georgia with the United States, had spearheaded a furious de-Stalinisation campaign." Continue reading →

Continue ReadingGeorgia rebuilds Stalin monuments

Russian parliament finalizes U.S. adoption ban

"Russia’s lower house of parliament has given final approval to a contentious bill that retaliates against a new US human rights measure by barring Americans from adopting the country’s children. Washington swiftly slammed the move saying Russian children would be harmed by the measure. The Russian leader has indicated he is ready to put his name on the measure so that it could enter law on January 1. The measure, which underscores the severity of the recent strain in Russia-US ties, would end about 1,000 adoptions a year." Continue reading →

Continue ReadingRussian parliament finalizes U.S. adoption ban

Putin offers French actor Gerard Depardieu Russian passport following tax controversy

"Russian President Vladimir Putin said on Thursday he was ready to offer French movie star Gerard Depardieu a Russian passport to resolve his tax row, calling him a friend. 'If Gerard really wants to have a residency permit in Russia or a Russian passport, we can consider this issue resolved positively,' Putin said at his first major news conference after his return to the Kremlin in a March election. Depardieu on Sunday threatened to give up his French passport and take up Belgian citizenship to protest at the Socialist government’s new tax hike on the rich." Continue reading →

Continue ReadingPutin offers French actor Gerard Depardieu Russian passport following tax controversy

Russia to vote on banning U.S. adoptions

"The Russian parliament will vote this week on a bill banning adoption of Russian children by Americans, in retaliation to the Magnitsky Act passed by the United States last week, lawmakers said Monday. Ahead of the key second reading scheduled for Wednesday, lawmakers added to the text of the bill new clauses banning adoptions of Russian children by US nationals, according to opposition lawmaker Dmitry Gudkov, who posted a copy of the amended bill online. The amended bill would also order the closure of US adoption agencies in Russia." Continue reading →

Continue ReadingRussia to vote on banning U.S. adoptions

Obama signs Russian human rights law, angers Putin

"President Barack Obama Friday signed legislation that sanctions alleged Russian human rights abuses, which outraged Moscow after being coupled with a bill granting it normal trade relations. Obama signed the measure into law a day after Russian President Vladimir Putin condemned the so-called Magnitsky Act, which blacklists Russian officials allegedly implicated in the prison death of lawyer Sergei Magnitsky. The Russian foreign ministry issued a statement minutes after Obama formally signed the legislation in the Oval Office, saying the move amounted to 'open meddling' in its internal affairs and was 'a blind and dangerous position.'" Continue reading →

Continue ReadingObama signs Russian human rights law, angers Putin

Money Laundering Accusations Could Delay Cyprus Bailout

"Cyprus had applied in June to become the fifth nation to receive a bailout in the euro crisis. But there are no signs whatsoever that Cyprus is willing to commit to a serious austerity program, sources in Brussels said. The talks could now be delayed by accusations that Cyprus is lax on money-laundering. Banks in Cyprus hold $26 billion (€20.33 billion) in deposits by Russian investors. According to the BND, most of this money has been illegally moved abroad to evade Russian tax authorities. By Cypriot standards it's a tremendous sum given that the island's entire annual GDP amounts to €17 billion." Continue reading →

Continue ReadingMoney Laundering Accusations Could Delay Cyprus Bailout

Money Laundering Accusations Could Delay Cyprus Bailout

"Cyprus had applied in June to become the fifth nation to receive a bailout in the euro crisis. But there are no signs whatsoever that Cyprus is willing to commit to a serious austerity program, sources in Brussels said. The talks could now be delayed by accusations that Cyprus is lax on money-laundering. Banks in Cyprus hold $26 billion (€20.33 billion) in deposits by Russian investors. According to the BND, most of this money has been illegally moved abroad to evade Russian tax authorities. By Cypriot standards it's a tremendous sum given that the island's entire annual GDP amounts to €17 billion." Continue reading →

Continue ReadingMoney Laundering Accusations Could Delay Cyprus Bailout

U.S. ‘coordinates weapon deliveries’ to Syria rebels: Russia

"'Washington is aware of the deliveries of various weapons to illegal armed groups active in Syria. Moreover, judging by the declarations of US officials published in US media, the US coordinates and provides logistical assistance in such deliveries,' the foreign ministry said in a statement. Russia’s top general Nikolai Makarov on Wednesday said rebels fighting against Bashar al-Assad’s army in Syria are using US-made Stingers, a type of shoulder-launched missile systems also known as MANPADs. State Department spokeswoman Victoria Nuland promptly denied that the US is delivering any such, or any other, weapons to the rebels." Continue reading →

Continue ReadingU.S. ‘coordinates weapon deliveries’ to Syria rebels: Russia

Cash-strapped Cyprus plots Russian exit from austerity

"The Russians, quite correctly, view Cyprus as a convenient backdoor to the European Union – and they are not alone. The Chinese have also started arriving, encouraged by what they regard as an incredibly low bar to immigration. Forget all those tricky visa forms, for anyone prepared to spend €300,000 on a property in Cyprus there is the bonus of eligibility for permanent residency. Once this is achieved, the owner is entitled to move anywhere within the EU. For the price of a shoebox in Shanghai, Cyprus is offering a gold-card travel pass and much more besides." Continue reading →

Continue ReadingCash-strapped Cyprus plots Russian exit from austerity